ECB Keeps Interest Rates Unchanged Amid Rising Inflation

The European Central Bank (ECB) has kept its key interest rates unchanged despite inflation in Europe rising at its fastest pace since 2008.

The ECB's decision was announced on Thursday, with the bank maintaining its main refinancing operations rate at 0.00%, marginal lending facility rate at 0.25%, and deposit facility rate at -0.50%.

This move comes as inflation in the euro area reached 3.4% in September, driven by higher energy prices, according to Eurostat figures.

The ECB expects interest rates to remain at their present or lower levels until inflation reaches 2%, and estimates that inflation will stabilize at this level over the medium-term.